India: Ghee Market 2024

Ghee Market Size in India

The Indian ghee market amounted to $X in 2022, growing by X% against the previous year. Over the period under review, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Ghee Production in India

In value terms, ghee production rose slightly to $X in 2022 estimated in export price. Overall, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Ghee Exports

Exports from India

In 2022, the amount of ghee exported from India soared to X tons, growing by X% on the previous year's figure. Over the period under review, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, ghee exports soared to $X in 2022. In general, exports saw a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates (X tons), Saudi Arabia (X tons) and Qatar (X tons) were the main destinations of ghee exports from India, together comprising X% of total exports. The United States, Indonesia, Australia, Singapore, Oman and Kuwait lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ghee exported from India were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), with a combined X% share of total exports. The United States, Indonesia, Australia, Singapore, Oman and Kuwait lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Indonesia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ghee export price stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Singapore ($X per ton), while the average price for exports to Qatar ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into India

In 2022, purchases abroad of ghee was finally on the rise to reach X tons for the first time since 2015, thus ending a six-year declining trend. Overall, imports, however, showed a precipitous descent. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, ghee imports skyrocketed to $X in 2022. In general, imports, however, showed a sharp shrinkage. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of ghee to India, accounting for a X% share of total imports. Moreover, ghee imports from Indonesia exceeded the figures recorded by the second-largest supplier, Bahrain (X tons), fourfold. Belgium (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Bahrain (X% per year) and Belgium (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of ghee to India, comprising X% of total imports. The second position in the ranking was taken by Bahrain ($X), with a X% share of total imports. It was followed by Belgium, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Bahrain (X% per year) and Belgium (X% per year).

Import Prices by Country

The average ghee import price stood at $X per ton in 2022, leveling off at the previous year. In general, the import price, however, showed buoyant growth. The growth pace was the most rapid in 2020 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Bahrain ($X per ton), while the price for Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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